Exercise/Fitness

11/13/2024 |  Planet Fitness loses 11th hour bid to acquire bankrupt Blink (CNBC Sports)

• Planet Fitness lost a bid in bankruptcy court to acquire Blink Holdings.
• U.K.-based private gym chain PureGym won its bid to acquire Blink and its assets, including 60 of its gyms in New York and New Jersey.
• A Delaware bankruptcy court judge said accepting PureGym’s offer would avoid antitrust risks.

11/13/2024 |  Club Studio Opens New Walnut Creek, CA Location (SGB UPDATE) Fitness International, LCC has opened a new Club Studio in Walnut Creek, CA, marking the brand’s continued expansion into Northern California and for San Francisco East Bay residents.
The company invested approximately $10 million to renovate the 38,000-square-foot space and create a “modern and elegant” interior space. Club Studio Walnut Creek features the brand’s signature five boutique fitness studios. Amenities include free weights, strength, functional training, cardio areas, recovery services (cryotherapy and red-light therapy), personal stretch stations, and locker rooms.

11/13/2024 |  Blink Fitness Receives Court Approval for Sale (SGB UPDATE) Blink Fitness announced that the U.S. Bankruptcy Court has approved the sale of its corporate operations and New York and New Jersey locations to PureGym. On November 7, 2024, the Court also approved the sale of Blink’s Chicago, Houston and California locations to an affiliate of JTRE Holdings, LLC. 

11/8/2024 |  Xponential Fitness Posts Q3 Loss on Flat Sales (SGB UPDATE) Xponential Fitness, Inc. posted a net loss of $18 million in the third quarter after litigation expenses, impairment charges and other acquisition-related charges. North America system-wide sales grew by 21 percent but corporate revenue was flat as higher franchise and equipment revenues were largely offset by a decline in other service revenue.

11/7/2024 |  Planet Fitness Increases 2024 Revenue and Adjusted EBITDA Outlook (SGB UPDATE) Planet Fitness, Inc. reported that third-quarter total revenue increased by 5.3 percent to $292.2 million from $277.6 million in the prior-year Q3 period, including system-wide same-club sales growth of 4.3 percent.
The company opened 21 new Planet Fitness clubs system-wide during the third quarter, including 12 franchisee-owned and nine corporate-owned clubs. As of September 30, 2024, the total number of system-wide clubs was 2,637.